McDonald’s Co. (NYSE:MCD) Shares Sold by First Interstate Bank

First Interstate Bank lowered its stake in shares of McDonald’s Co. (NYSE:MCD) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 18,921 shares of the fast-food giant’s stock after selling 563 shares during the quarter. First Interstate Bank’s holdings in McDonald’s were worth $5,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCD. Moneta Group Investment Advisors LLC raised its stake in McDonald’s by 106,340.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,235,890 shares of the fast-food giant’s stock valued at $5,069,234,000 after acquiring an additional 19,217,818 shares in the last quarter. Norges Bank bought a new stake in McDonald’s during the 4th quarter valued at $2,341,360,000. International Assets Investment Management LLC raised its stake in McDonald’s by 10,702.5% during the 4th quarter. International Assets Investment Management LLC now owns 2,174,426 shares of the fast-food giant’s stock valued at $644,739,000 after acquiring an additional 2,154,297 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in McDonald’s by 1,189.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,191,692 shares of the fast-food giant’s stock valued at $541,962,000 after acquiring an additional 2,021,754 shares in the last quarter. Finally, Imprint Wealth LLC raised its stake in McDonald’s by 31,574.5% during the 2nd quarter. Imprint Wealth LLC now owns 1,628,069 shares of the fast-food giant’s stock valued at $162,807,000 after acquiring an additional 1,622,929 shares in the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on MCD shares. Truist Financial dropped their price objective on McDonald’s from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Citigroup cut their target price on McDonald’s from $312.00 to $297.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America boosted their target price on McDonald’s from $291.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Stifel Nicolaus cut their target price on McDonald’s from $315.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Finally, HSBC began coverage on McDonald’s in a research report on Wednesday, December 20th. They set a “buy” rating and a $317.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.72.

McDonald’s Trading Down 0.3 %

NYSE MCD traded down $0.86 on Tuesday, reaching $265.37. The stock had a trading volume of 2,912,505 shares, compared to its average volume of 3,243,292. The company has a market capitalization of $191.33 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.89 and a beta of 0.71. The business has a 50 day moving average price of $284.60 and a 200 day moving average price of $280.75. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39.

McDonald’s (NYSE:MCD) last released its quarterly earnings results on Monday, February 5th. The fast-food giant reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.12. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.45 billion. McDonald’s had a negative return on equity of 171.96% and a net margin of 33.22%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 EPS. On average, analysts anticipate that McDonald’s Co. will post 12.35 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $1.67 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $6.68 annualized dividend and a dividend yield of 2.52%. McDonald’s’s dividend payout ratio (DPR) is presently 57.74%.

Insider Buying and Selling

In related news, insider Joseph M. Erlinger sold 1,099 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $284.38, for a total transaction of $312,533.62. Following the completion of the transaction, the insider now owns 18,075 shares of the company’s stock, valued at approximately $5,140,168.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.